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Locus.FinanceLocus.Financeby0x2aDd55d0E962107D7e7a434610f12957d6f038310x2aDd…3831

What blockchain to choose to launch Locus token?

Voting ended over 2 years agoSucceeded

NOTE: The subject of this vote is a blockchain for the launching of the Locus token. Please also review other ongoing votes regarding Locus Tokenomics. The full document with tokenomics description is located here: https://docs.google.com/document/d/1b3K_TzRx4L3fr3AW_yQdFYV240XVaqXFyS83DmNthiM/edit

INTRO Locus' mission is to launch retail products on top of DeFi innovations that come from all the different EVM and non-EVM chains. The blockchain that we pick should represent this trend in the best way and have the infrastructure required for the successful growth of the token. This infrastructure is:

  • DeFi investment apps;
  • High TVL;
  • Low transaction costs;
  • Variety of DEXes with bribe markets to support the liquidity for token;
  • High real volume from users;
  • Possibility of grants;
  • Secure bridge infrastructure.

In the current state of the market, there are two candidates for this:

  • Arbitrum https://arbitrum.io/
  • Optimism https://www.optimism.io/

Arbitrum has two times higher TVL, more volumes and more Dexes that support the ecosystem. GMX is the leading protocol of Arbitrum and the ecosystem built around GLP products. We talked with the Arbitrum team about Locus and Arbitrum’s vault and they are ready to support us with marketing on the launch. Arbitrum does not provide grants in ARB token, but there are discussions in the Arbitrum forum to establish short-term grants for protocols on Arbitrum. Also, we already have the Arbitrum vault, which will be updated after the major release in October.

Optimism has a vast system of grants in OP token, Velodrome DEX with built-in bribe mechanics, which leads to a higher user retention rate than in Arbitrum. Kwenta, the perpetual DEX of Optimism, has been printing more volumes than GMX due to the trader’s rewards in OP. Optimism is used as a layer for Base and opBNB blockchains, which generates revenue for Optimism giving them more gunpowder to further develop the ecosystem. The presence on Optimism may give us an overall higher yield for the Locus token through the incentivisation of the ecosystem by Optimism itself.

VOTING QUESTION Which blockchain should be chosen to launch the Locus token?

Off-Chain Vote

Arbitrum
437.97K MIDAS76.7%
Optimism
64.18K MIDAS11.2%
None of the above
2.07K MIDAS0.4%
Abstain
66.67K MIDAS11.7%
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Timeline

Sep 12, 2023Proposal created
Sep 13, 2023Proposal vote started
Sep 20, 2023Proposal vote ended
Oct 26, 2023Proposal updated